With the latest advancements in communication technology, most business transactions and dealings take place over the internet using video conferencing, emails and e-commerce tools. Many new-age businesses now have remote virtual teams working for them. This makes the idea of owning and maintaining a conventional physical office redundant.
What is a Virtual Office?
The virtual office can be defined as a business location that only exists in digital space that helps you save costs on office real estate while maintaining professionalism. You can opt for an “address only” package or go for the added virtual office services like receptionist, mail handling, lounge access, etc.
Save on Costs of Physical Office
The location of your physical office adds mileage to your credibility in the market. However, it can be very expensive to own or rent an office at a prime location. You would need to spend lacs of rupees on rental alone if you run an office space in a CBD like Nariman Point in Mumbai or Janpath in Delhi.
With virtual offices, you can now save on high fixed cost associated with renting a physical office at a prime location. For most small businesses, running a physical office at a prime location may turn out to be too costly. Apart from the rent involved in a physical office, other expenses like maintenance, utilities, and staff can also hit you hard during times of recession. So, does that mean you cannot own an office address at a prime location?
You can now own an office address at any part of the world for a few thousand rupees a year.
Get an International Office
You may want to expand your business across borders. However, the business volume from a geographic location may not justify the expense of a physical office. How do you maintain a local presence in that case? These virtual offices not only give you a local business address but also offer you a local phone number where all your inquiries can be routed. To give a local feel to your presence you can also avail some add-on services offered by our partner service providers, wherein a multi-lingual receptionist will receive your calls that are local to your international office location.
Do You Need a Virtual Office?
Small and medium-sized companies (SMEs) cannot afford to spend much on physical office spaces. The irony is that they need a prime address to build their reputation in the market. Hence, a virtual office is a good option for them.
In this digital age, where boundaries are shrinking, business is going global even for small companies. This is another reason why these companies need to have a glocal (global plus local) presence at a low cost. These virtual offices offer them the right solution.
For businesses that are cyclical in nature, the virtual office makes perfect sense. No business is completely recession-proof. You can avoid incurring high fixed costs during bad times by opting for virtual office address.
Even startups that operate out of garages or homes are now finding this plug and play option more appealing.
AKT Associates free guidance on Virtual offices
I want to understand how their virtual offices can help you save on your real estate cost while expanding your market presence, contact us to understand the concept. At AKT Associates, we offer free consulting and guidance to entrepreneurs where we help you decide on a suitable location and virtual office plan that is most suitable for your business needs. We also offer advice on legal documentation required to get these office working for you!